Global Spectral Computed Tomography Market – Overview
Spectral Computed Tomography provides a precise analysis of the Computed tomography (CT), an x-ray scanning technique used as a prominent medical imaging device, serving as a workhorse in many clinical settings worldwide. CT addresses the need for urgent diagnostic tasks such as tumor staging, oncology, and radiation therapy planning or acute stroke analysis.
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Spectral Computed Tomography has changed the spectrum of diagnostics and treatments of many diseases, which acts as a key driving force has increased the market size of Spectral CT on the global platform. Increasing prevalence of the chronic diseases such as cancer, cardiac, orthopedic and neurological diseases, is the major driving factor for the market growth.
Acknowledging the traction, the market is vibrating with; Market Research Future (MRFR) in its recently published study report asserts that the global Spectral Computed Tomography market gaining further prominence will register a spectacular growth by 2023 posting ~ 7% CAGR during 2017 – 2023.
Factors such as favorable reimbursement policies, coupled with the ongoing product development & commercialization help boosting the market growth. CT has been evolved as one of the most important imaging technique in various medical applications. Hence, increasing applications of CT and rising approval from regulatory bodies account for the predominant factors, fueling the market growth.
Increasing incidence of chronic diseases fuelled by the changing and sedentary lifestyle are increasing the demand for CT, expanding the market growth of Spectral Computed Tomography. Therefore, the market perceives a considerable expansion. Technological advancements that took place in the field of medical science is also one of the key factors fostering the market growth.
Besides, efforts & investments transpired into the R&D activities by the key market players for the development of new devices, are paying off well, fueling the market growth. Concurrently, government initiatives are playing a significant role in the growth of the market.
On the other hand, factors such as the high procedural cost of Spectral CT devices along with the skepticism of physicians towards the advancement & efficacies of these devices are likely to impede the growth of Spectral Computed Tomography market. Also, the reported cases of adverse effects of the X-rays coupled with the requirement of training are some of the factors, presenting challenges to the market growth during the assessment period. Nevertheless, the demand for sophisticated devices by the physicians and patients, in turn, is contributing to the market growth to a great extent.
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The Global Spectral Computed Tomography Market is led by some of the fervent players including Agilent Technologies (US), Thermo Fisher Scientific (US), Koninklijke Philips N.V. (Netherlands), General Electric Company (US), Neusoft Medical Systems (Russia), Pall Corporation (US), Xoran Technologies, LLC (US), Hitachi medical corporation (Japan), Varian Medical Systems, Inc. (US), Siemens Healthcare Private Limited (Germany), Trivitron Healthcare (US), PerkinElmer Inc. (US), Cleaver Scientific Ltd (UK), Bio-Rad Laboratories, Inc. (US), NeuroLogica Corp (US), iCAD Inc. (US), Shimadzu Corporation (Japan) and Shenzhen Anke High-tech Co., Ltd. (China). Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of competition.
Global Spectral Computed Tomography Market – Competitive Analysis
Spectral Computed Tomography market appears to be competitive & fragmented owing to the presence of several matured & small key players forming a competitive landscape. Strategic partnership, expansion, acquisition, product & technology launch, and collaboration remain the key strategies of market players to achieve competitive advantage.
June 8, 2018 – Royal Philips (the Netherlands), leading global player in health technology in collaboration with the SAM (Singapore Institute of Advanced Medicine) Holdings officially opened the AMI center (Advanced Medicine Imaging) at Biopolis (Singapore), an international biomedical research hub. Apart from providing the specialized oncology care, scientific R&D, and medical training for the up-skilling the region’s healthcare professionals, the new facility is equipped with Philips’ IQon Spectral CT, a new generation Computed Tomography (CT) and another world-first solution at AMI.
Global Spectral Computed Tomography Market – Segmentations
MRFR has segmented the market into four key dynamics for the convenience of the report and enhanced understanding;
By Types: Spiral CT, Electron Beam Tomography, Multi-Slice Computed Tomography, Positron Emission Tomography (PET) and Single-Photon Emission Computed Tomography among others.
By Application: Oncology, Neurology, Cardiology, Spine, Musculoskeletal Disorders, Body Imaging, and Gastrointestinal Diseases among others.
By End Users: Diagnostic Centers, and Hospitals among others.
By Regions: Europe, North America, APAC and Rest of the World.
Global Spectral Computed Tomography Market – Geographical Analysis
The North America market is expected to dominate the global Spectral Computed Tomography market with the significant market share. Growing prevalence of cardiovascular diseases, cancer and orthopedic diseases in the region are driving the market growth.
Moreover, factors such as increasing demand for minimally invasive procedures, technologically advanced treatment and products along with the rising healthcare expenditures and government support, are expected to drive the regional market growth commutatively. Also, the presence of the leading players is one of the predominant factors propelling the market growth in the region.
Whereas the Europe & Asia Pacific markets in terms of the market share stand at the second & third positions respectively. The Europe market is expected to demonstrate a healthy growth during the forecast period. The market growth attributes to the factors such as the availability and accessibility of advanced treatment facilities & healthcare expenditures along with the growing demand for better healthcare infrastructure.
Moreover, rising rates of cardiovascular diseases along with the rising geriatric populace, growing population increasingly inclined towards the sedentary lifestyle, such factors are driving the regional market growth. Rampant funding support from the private and public bodies for R&D activities is propelling the growth of the Spectral Computed tomography market in the European region.
The Asia-Pacific emerging as a lucrative market for SCT is expected to register the fastest growth for Spectral Computed Tomography. Factors such as growing incidences of neurovascular diseases coupled with the availability of new treatment methods and the growing population that is increasingly gaining awareness towards the excellent healthcare drive the market in the region.
The Middle East & Africa own a tiny share in the global Spectral Computed Tomography market. Reason being the least contribution, mainly from Africa due to the poor economy, low per capita healthcare expenditure and stringent government policies.
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